HDFC Manager, Aditya Puri sold 95% of his stake

HDFC Bank manager cum director Aditya Puri decides to sell 95% of his equity stake. The Reports according to stock exchange filings 74.2 lakh shares worth rupees 840 2.87 crore. During July 21 to 23 is the segregation of the 95% shares.

HDFC Bank had last year in November set up a six member committee including:

  • Sanjeev Sachdeva,
  • Sandeep Parekh,
  • keki Mistry,
  • Shyamala Gopinath,
  • Srikanth nadhamuni and
  • MD Ranganathan to identify his successor.

The sale of 95% share declared by Puri around three months ahead of his retirement from the top job as managing director since 1994.

Puri is the highest paid banker among the top bankers for financial year 2019 to financial year 2020.

HDFC has last week reported its quarter 1 financial year 20 results with a 19.6% increase in net profit from rupees 5568 point 16 crore in quarter 1 financial year 2019.

The asset quality also improved slightly with cross NPS standing at 1.36 % of gross advances on June 30 2020.

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